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Is Central States pension fund ready to go under?
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<blockquote data-quote="tieguy" data-source="post: 232182" data-attributes="member: 1912"><p><strong>Re: UPDATE: 2nd quarter report now available</strong></p><p></p><p></p><p> </p><p><span style="color: blue">Jon, I think its time for a reality check. If those fiduciaries suffer a loss that results in the funding percentage dropping down to the 40's as you admitted then we have some serious issues here where those fiduciaries were grossly negligent. </span></p><p> </p><p><span style="color: #0000ff">For instance the stable fund paid approximately 8 percent during those tough years. The bond market paid approximately 8 percent during those years. The bond market tends to go up as the stock market goes down during these years. So compentent financial money managers should have been able to realize modest gains of at least 2 percent during those lean years rather then the six billion dollar loss you admit to. Your six billion you admit to being lost plus the modest gain that should have occurred could be a swing of as much as 10 billion during the lean years. I'm averaging 15 to 20 percent return a year in this market and I was averaging 4 to 8 percent gains by investing in safer investments during the lean years. I am certainly no smarter then a highly trained money manager. this begs serious questions about those money managers entrusted to manage teamster pensions. The CS plan making some gains in this market is not enough. Serious questions and answers are required as to the investment philosophy of those entrusted to invest these funds. The plan getting better during the good years is not enough. What do they do to minimize the losses during the down years. Do they know how to invest during the down years? Someone who understands the market can make money no matter how the market is behaving. Yet those who manage CS lost a ton. </span></p></blockquote><p></p>
[QUOTE="tieguy, post: 232182, member: 1912"] [b]Re: UPDATE: 2nd quarter report now available[/b] [COLOR=blue]Jon, I think its time for a reality check. If those fiduciaries suffer a loss that results in the funding percentage dropping down to the 40's as you admitted then we have some serious issues here where those fiduciaries were grossly negligent. [/COLOR] [COLOR=#0000ff]For instance the stable fund paid approximately 8 percent during those tough years. The bond market paid approximately 8 percent during those years. The bond market tends to go up as the stock market goes down during these years. So compentent financial money managers should have been able to realize modest gains of at least 2 percent during those lean years rather then the six billion dollar loss you admit to. Your six billion you admit to being lost plus the modest gain that should have occurred could be a swing of as much as 10 billion during the lean years. I'm averaging 15 to 20 percent return a year in this market and I was averaging 4 to 8 percent gains by investing in safer investments during the lean years. I am certainly no smarter then a highly trained money manager. this begs serious questions about those money managers entrusted to manage teamster pensions. The CS plan making some gains in this market is not enough. Serious questions and answers are required as to the investment philosophy of those entrusted to invest these funds. The plan getting better during the good years is not enough. What do they do to minimize the losses during the down years. Do they know how to invest during the down years? Someone who understands the market can make money no matter how the market is behaving. Yet those who manage CS lost a ton. [/COLOR] [/QUOTE]
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